Default being marked as missed payment on credit file every month - is this correct?

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So I had a pay day loan out just under 10 years ago now. I was unable to repay at the time due to difficult circumstances. I had actually forgotten about it after so long and the company had not made any attempt to contact me for payment in years. I checked my Transunion credit file today (I usually only use Experian). I discovered that this payday loan has been marked as a missed payment every month since it defaulted years ago. No wonder my credit rating is so low! The account was not showing on Experian so I was unaware of this until today.

Is this correct? A missed payment mark every month from default? Or should it not default and then stop marking the file monthly?

I have also had no contact from the company chasing me for payment. Can I dispute this / get it off my credit file? It looks as though it defaulted 5 years ago, so I understand the default stays for 6 years, but to mark it as missed payment every month?...

[MIKE770]

it will drop off after the 6 year point regardless - runs from 30 days after default date, trans-union (Noddle) are poor at taking action and just pass to whoever involved

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it will drop off after the 6 year point regardless - runs from 30 days after default date, trans-union (Noddle) are poor at taking action and just pass to whoever involved

Thanks Mike. Yes I understand it will drop off after 6 years, but that doesn't answer my question. Currently it is marking as a missed payment every single month. Transunion even keep a score and it says how many missed payments you've had (36) in the last few years, all from this one loan. Surely it should just be the default, not be marked as an ongoing missed payment every month?

[MIKE770]

look i had the same even proving a missed payment did not occur but just some office accountant does not understand 11.58 p.m is not 0012 the next day be honest it has made no difference to large card companies who tend to use their own criteria

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Mike, having only been on this forum a couple of months I didn't want to pass judgement without giving you a chance. But the responses to questions / threads which are more often than not from you. Are incredibly difficult to comprehend, are vague and half the time make no sense whatsoever.

[MIKE770]

#4 above was an instance whereby i paid account 3 minutes before midnight and got receipt BUT it then got entered as a missed payment, and recorded as a day late paying, marker did not get removed even with evidence of in time payment! but talking to some larger companies certain credit reference agencies input has not much bearing as most larger companies check but have own criteria. this one fell off just this last month on trans-union others never bothered after i complained and removed entry straight away once receipt shown to them. but the entry on trans union (Noddle) was on their site 6 years.
, yet i got cards from larger credit companies within 2 years of the said entry which makes you think only certain CRAs used by different credit card companies.

[MIKE770]

— Only the first default date for a debt matters Once a debt has been marked as defaulted, your credit file will normally show a default marker every month afterwards until the debt is settled. That looks dreadful on your credit reports! But in the credit score calculations, it is only counted as one default.